Ethan is working in the banking industry and wants to take a finance certification course for $7$ years,

starting $6$ years from now. Ethan plans to pay himself for this course from his salary. The current annual

cost of this course now is $$23,800,$ and Ethan expects this cost to rise at an annual rate of $5\%$ because of

high demand and inflation. Ethan plans for savings, and he assumes that he can earn $7\%$ annual rate of

return. How much must Ethan put aside and save each year, starting next year, if he plans to make $5$

equal payments? All payments are at year end. Present answer with $2$ decimals